Business
Heritage Reports First Quarter 2025 Results
Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, today reported first quarter of 2025 financial results.
About this update from Heritage Insurance Holdings, Inc.
[{"type":"text","content":"TAMPA, Fla., May 6, 2025 /PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, today reported first quarter of 2025 financial results.","length":260,"tagName":"p"},{"type":"image","alt":"Heritage Insurance (PRNewsFoto/Heritage Insurance Holdings, Inc) (PRNewsfoto/Heritage Insurance Holdings, In)","displaySize":"","headline":null,"caption":"Heritage Insurance (PRNewsFoto/Heritage Insurance Holdings, Inc) (PRNewsfoto/Heritage Insurance Holdings, In)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":86,"url":"https://media.zenfs.com/en/prnewswire.com/e43fe6ee846e4d751ff980466c3f1d9b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/XEvV5ELupJdv3x9qdjG4xw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE1MjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/e43fe6ee846e4d751ff980466c3f1d9b","width":400,"height":86}},"href":"https://mma.prnewswire.com/media/346373/heritage_insurance_logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"First Quarter 2025 Result Highlights ","length":36,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net income of $30.5 million or $0.99 per diluted share, improved from net income of $14.2 million or $0.47 per diluted share in the prior year quarter. First quarter 2025 included a net pre-tax impact of $31.8 million of net losses and loss adjustment expenses related to the California wildfires.","length":297,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross premiums earned of $353.8 million, up 3.6% from $341.4 million in the prior year quarter.","length":95,"tagName":"p"}]},{"val":[{"type":"text","content":"Net premiums earned of $200.0 million, up 11.5% from $179.4 million in the prior year quarter.","length":94,"tagName":"p"}]},{"val":[{"type":"text","content":"Net loss ratio of 49.7%, an improvement of 7.2 points from 56.9% in the prior year quarter.","length":91,"tagName":"p"}]},{"val":[{"type":"text","content":"Net expense ratio of 34.8%, an improvement of 2.3 points from 37.1% in the prior year quarter.","length":94,"tagName":"p"}]},{"val":[{"type":"text","content":"Net combined ratio of 84.5%, an improvement of 9.5 points from 94.0% in the prior year quarter.","length":95,"tagName":"p"}]},{"v...